Companies that finance marijuana businesses are making more loans than ever before. As legalization seems imminent in the United States, the world continues to get more excited about the massive economic opportunities projected in the lucrative cannabis industry.
However, because marijuana has not yet been federally decriminalized, it remains difficult for most people to obtain investment capital for launching a startup cannabis business. Traditional bank loans are not granted for marijuana businesses because cannabis is still scheduled as an illegal drug, like cocaine. That means that the FDIC will not insure the loans, and so they are not available.
SBA (Small Business Administration) loans are an option in rare cases but they have requirements about time in business, credit score, annual revenue, and more. Lines of credit typically require at least 1 year in business, proof of profitability, and annual revenue of at least $200,000; requirements that are difficult for most new cannabis businesses to meet.
As a result, many entrepreneurs are searching for companies that finance marijuana businesses. Many are surprised to learn that there are actually various ways to get startup capital for a marijuana dispensary, grow operation, edibles manufacturing business, or even a CBD extraction facility.
How can you get a loan to fund a marijuana business?
Right now, before the federal laws are modified when marijuana prohibition ends in the United States, is the best time to apply for a cannabis business loan, hemp business loan, or CBD business loan. Now is the time to secure the financing you need to launch a startup cannabis business or to grow your existing marijuana business. Timing is crucial!
Cannabis Credit Lines is a cannabis lender that offers several viable options to help you obtain the capital you need to thrive in this booming industry. Our professional team of financing experts can secure a loan that is customized to meet your unique needs. We have specialized loans available for new and seasoned businesses within the recreational and medical marijuana sectors.
We offer financing options for startup cannabis businesses including equipment loans, lines of credit, real estate loans, facility purchase or expansion loans, and much more. Loans can be interest-free for up to 15 months, allowing your business to grow without being slowed by expensive interest fees.
If you’re looking for a company that finances marijuana businesses, then Cannabis Credit Lines is here for you. If you have a credit score of at least 700, then we can get you financed regardless of your time in business, credit card volume, accounts receivable, or proof of profitability. Call us today at (888) 699-2298 or Apply online here.